Waldorf Manufacturing is operating a production facility, which will be closed in 3 years. A decision needs to be made whether to keep the existing machine in operation for 3 more years, despite its significant wear and tear, or whether to acquire a new machine instead, only to be used for 3 years before sold. The existing machine could be sold for $44,000 today, or if kept for 3 more years, could be sold for $8,000 in 3 years. Its annual operating and maintenance costs are $29,000. Replacing the existing machine with a new one would have no impact on revenues. 

Calculate the annual worth (AW) of keeping the defender for 3 more years.